For this project, we utilized data cleaning, imputation, analysis, and visualization to generate insights for a business stakeholder.
Our company now sees all the big companies creating original video content and they want to get in on the fun. They have decided to create a new movie studio, but they don’t know anything about creating movies. The task is to explore what types of films are currently doing the best at the box office and translate those findings into actionable insights that the head of our company's new movie studio can use to help decide what type of films to create.
Our company is interested in starting a movie production studio and has several key questions:
- What are the highest grossing genres in the past few years?
- How does the budget of a movie relate to its Return on Investment (ROI)?
- Does the release month have any effect on the movie's ROI?
The data is sourced from Box Office Mojo, IMDB and The Numbers.
The data consists of information like the movie title, genre, budget, gross earnings and release date. It has been cleaned, merged, and analyzed to answer the business questions.
By analyzing the dataset, we were able to create multiple visualizations showing the relationship between different movie attributes and their success at the box office.
After thorough analysis of the dataset, we have several conclusions for the company that wants to start a movie production studio:
- The highest grossing genres in recent years are Action, Adventure, and Animation.
- Movies with higher budgets tend to have higher ROI, but there is a point of diminishing returns.
- Certain genres tend to have higher ROI than other genres
- Historically, movies released in April, July and November have the highest ROI.
- Spending less than $1,000,000 on production can lead to higher ROI.
These insights can be used by the movie studio to make informed decisions about what type of films to create.